Business
DECEMBER 2019 QUARTERLY REPORT
DECEMBER 2019 QUARTERLY REPORT.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n \nRNS Number : 5036B Global Petroleum Ltd 31 January 2020 \n\n31 Januay 2020\n \nGlobal Petroleum Limited\n \nDECEMBER 2019 QUARTERLY REPORT\n \nThe Board of Global Petroleum Limited (\"Global\" or \"Company\") is pleased to present its Quarterly Report for the period ending 31 December 2019.\n \nSummary\n· In Namibia:\n- the Company continued to carry out interpretation of the existing data in PEL 0094, culminating in a prospective resource estimate being calculated and released;\n- further contacts were made with counterparties in relation to a potential farm-out of PEL 0094 and PEL 0029. \n \n· In Italy, regarding the various appeals against the Environmental Decrees in relation to the Company's applications for offshore permits:\n- during the reporting period the town of Margherita di Savoia appealed to the Council of State against the Rome Tribunal judgments previously made against it. No hearing date has been set for these latest appeals. \n- the similar appeals previously made by the Puglia region were heard by the Council of State subsequent to the reporting period - the judgments are expected during H1 2020. \n \nFor further information please visit www.globalpetroleum.com.au or contact:\n \n\n\n\n\nGlobal Petroleum Limited\n\n\n \n\n\n\n\nPeter Hill, Managing Director & CEO\n\n\n+44 (0) 20 3 875 9255\n\n\n\n\nAndrew Draffin, Company Secretary\n\n\n+61 (0)3 8611 5333\n\n\n\n\nCantor Fitzgerald Europe (Nominated Adviser & Joint Broker)\n\n\n \n\n\n\n\nDavid Porter/Rick Thompson\n\n\n+44 (0) 20 7894 7000\n\n\n\n\nTavistock (Financial PR & IR)\n\n\n \n\n\n\n\nSimon Hudson / Nick Elwes/ Barney Hayward\n\n\n+44 (0) 20 7920 3150\n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n \n \n \nNamibian Project \nThe Namibian Project consists of an 85% participating interest in Petroleum Exploration Licence (\"PEL\") Number 0029 covering Blocks 1910B and 2010A and PEL 0094 (acquired in 2018) which covers Block 2011A. \n \nPEL 0029, issued on 3 December 2010, originally covered 11,730 square kilometres and is located offshore Namibia in water depths ranging from 1,300 metres to 3,000 metres (F...